RENO, Nev., December 20, 2024 – American Battery Technology Company (NASDAQ: ABAT) announced today that it has reached securities purchase agreements with two institutional investors. The agreements are for the purchase and sale of 5,000,000 shares of common stock, along with warrants to acquire up to an additional 5,000,000 shares. This registered direct offering is priced at $1.00 per share, including the accompanying warrant.
The warrants have an exercise price of $1.10 per share and become immediately exercisable from the date of issuance. They will expire five years from their initial exercise date. Gross proceeds from this offering are expected to be approximately $5 million, before deducting placement agent fees and other estimated offering expenses, which the company will pay. Notably, the company must also make a required 20% excess cash payment to some of its existing debtholders.
The offering’s closing is anticipated on or around December 23, 2024, subject to standard closing conditions. A.G.P./Alliance Global Partners will act as the sole placement agent for this offering. A shelf registration statement on Form S-3 (File No. 333-276329) concerning the offering of these securities was declared effective by the Securities and Exchange Commission (SEC) on June 24, 2024. The offering will be made only through a base prospectus and accompanying prospectus supplement. A prospectus supplement pertaining to the offering will be filed with the SEC. Electronic copies will be available on the SEC’s website at www.sec.gov or by contacting A.G.P./Alliance Global Partners at 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060 or by email at prospectus@allianceg.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that state or jurisdiction.
About American Battery Technology Company
American Battery Technology Company, headquartered in Reno, Nevada, is pioneering technologies. These technologies focus on unlocking domestically manufactured and recycled battery metals vital to meet the significant demand from the electric vehicle, stationary storage, and consumer electronics sectors. Committed to establishing a circular supply chain for battery metals, ABTC continues to innovate and master new battery metals technologies. These advances will help power a global transition to electrification and the future of sustainable energy.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, except for those based on historical fact, are considered forward-looking. For instance, the company uses forward-looking statements when discussing the expected offering’s closing date and the use of proceeds. Although the company’s management believes that such forward-looking statements are reasonable, they cannot guarantee they will be correct. These statements involve risks and uncertainties that could cause the company’s future results to differ materially from what is anticipated. These risks and uncertainties include the company’s ability to continue as a going concern, general economic conditions, and the conditions affecting the industries in which the company operates. Others include the uncertainty of regulatory requirements and approvals and fluctuations in mineral and commodity prices. Additional details regarding the factors that may cause actual results to differ materially from forward-looking statements can be found in the company’s SEC filings, including the Annual Report on Form 10-K for the year ended June 30, 2024. The company has no obligation to update any information contained or referred to in this press release.
